31377 Richmond TpkeHanoverVA23069
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Hanover at 31377 Richmond Tpke, Hanover, VA, 23069 generates $2,893/mo in rent and, after a $2,324/mo payment, leaves $55/mo in cash flow. Total monthly income is $2,893/mo, and annual cash flow is $654/yr on $157,429 invested. Return on cash invested sits at 20.32% in year one, and rental yield is 7.31% on a $474,900 entry. Equity gained on principal adds $3,064/yr, while 5% annual appreciation builds toward $131,206 over five years. Five-year ROI reaches 104.8% and total cumulative return in cash sums $164,987. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,893/mo property income rather than buyer’s personal income.
Single Family
Built in 1982
1.08 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23069, Hanover, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,199 (100%) |
| Owner Occupied HU | 1,010 (84.2%) |
| Renter Occupied HU | 127 (10.6%) |
| Vacant Housing Units | 62 ( 5.2%) |
| Median Home Value | $395,635 |
| Average Home Value | $445,317 |
Housing Distribution
Address Breakdown
Residential
1,307
Single Family
1,307
Multi-Family
0
Businesses
103
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